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MUMBAI: The Indian markets have been down on profit booking for the past few sessions and the Nifty has shed most of the gains of 2013. However, there are some stocks with bullish set-up which can give good return in the coming week.

After run-up from lows of August 12, the stock made a high in December and has retraced 50 per cent of that rise. The decline has been on lower volumes indicating. Currently, the price is trading at 200 EMA on daily time frame.

Friday's closing has formed hammer candlestick pattern on daily chart. A bounce back from these levels is expected in the stock to Rs 92 levels in coming days.

Emami

The price is in larger degree uptrend after giving a breakout from a sideways consolidation pattern in November 12. The stock has been trading in range of Rs 625 and 560 levels for the past few months. Last week, it moved up backed by volumes indicating buying interest.

On closing basis, the price has closed at its life time highs in a market which has been in decline mode. The positive momentum in the stock should continue and expect a target of Rs 670 levels.

Tata Global Beverages

The stock is in strong uptrend on weekly chart and has retraced back. The price has retraced back to the breakout level of rounding pattern. Weekly chart indicators are still in bullish mode.

On daily time frame the stock looks oversold at these levels with the recent decline. Stock can be looked to buy into at current and on declines to 135 for a target of 150 levels.

Sun Pharma

The stock has been in strong uptrend and hasn't shown any weakness. Post good results, the stock has reacted positively and continued its rally to hit new life time highs. The volumes continue to be good at higher levels in the stock.

The stock can be bought at current levels and dips for with a price target of 840-850 levels.

Sobha Developers

While the realty sector is struggling, this stock is showing strength. It has already moved out the basing pattern compared to other realty stocks and continues to trade above it. Indicators are in a strong bullish mode confirming the strength in the stock.

Price has given a pullback on daily chart. Look for a price target of Rs 480 levels on the stock.

(The views and recommendations expressed in this section are the analysts' own and do not represent those of EconomicTimes.com)